Tips for ensuring mobile transaction security

Mobile applications account for 90% of all internet users in the United States alone. And with each passing year, mobile app use continues to grow exponentially on a worldwide scale.

Using a smartphone app has become so second nature that the majority of consumers are unaware of the increasing necessity to protect their security while paying for products and services online. Mobile transaction security, on the other hand, is essential since almost every known mobile application has been hacked in the past.

“Mobile malware has exploded in popularity over the last couple of years,” says Nathan Collier, Malwarebytes’ Senior Malware Intelligence Analyst. “The mobile space contains everything from backdoor malware that steals personal information to ransomware that locks your phone until payment is made. There is no reason not to be worried about millions of malware samples in the wild. (Wendy, 2016).

Cracked mobile applications, particularly when professional and personal interests are combined in a single app or device, significantly raise the danger of identity theft, intellectual property theft, and significant financial loss. Businesses are constantly being pressed to issue security updates to fight the threat.

So how can we safeguard our stuff from mobile app hackers?

Utilize strong passwords and fingerprint recognition

Do not wait until applications require you to create user passwords before adhering to password strength criteria such as a mix of capital and lowercase letters, a minimum password length, the usage of special characters, or the inclusion of at least one number (What Are The Password Requirements, 2014). Always keep your device’s fingerprint detection enabled.

Secure your data

Users must ensure that they are only using mobile applications that provide end-to-end encryption for sensitive data. This is critical for banking and investment applications. Developers and app testers should see encryption of all in-app communication as their duty.

Utilize only official apps

Avoid downloading applications that are not hosted on a trusted app store or the app developer’s official website. They’ve been repackaged and infected with malware and data-stealing capabilities. Additionally, use extreme caution with applications that show intrusive advertisements or collect device information without the user’s permission (Samarpan, 2014).

Configure remote wipes

This is very simple to do. It’s identical to setting up Google Sync on an Android device or iCloud on an iPhone. This feature allows you to remotely erase all the data from your phone if it is lost or stolen. Additionally, this feature enables you to retrace your device.

Security for back-end servers

Developers should ensure that their applications have back-end security and methods for all API authentication, VPN, and SSL tunneling. This safeguards against hacker activity and prevents hackers from eavesdropping on users’ sensitive data, limiting theft and loss.

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